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Greek deal frays as IMF threatens walk-out on debt buy-back impasse
The eurozone's debt relief plan for Greece has hit serious trouble within days as banks and pension funds balk at fresh losses, raising fears that the package could unravel before a deadline in mid-December. The International Monetary Fund said on Thursday that it would not disburse funds under its part of the EU-IMF package unless the eurozone delivers on a bond "buy-back" scheme, which is supposed to cut Greece’s burden by 10pc of GDP and is deemed crucial for restoring long-term viability. If the IMF withdraws, Finland and Holland will also pull out of the programme. "This has become a really big problem," said ... (full story)
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